Manoranjan Kalia, the Industry Minister of Punjab, has said that the state government will welcome industrialists to invest in the state provided they brings economically viable project for the state. Punjab has recently adopted the new SEZ Act.

The Minister justified the cancellation of agreement with Reliance Industries Ltd aimed to set up mega agricultural projects worth Rs 5,000 crore in the state.

Mr. Kalia added, "The decision of terminating the RIL project was taken by the cabinet in the interest of state as the project was not economically viable for the state and even RIL did not take any initiative to launch the project, for which a MoU was signed in 2006 by the previous government."

Mr. Kalia declined any adverse impact over prospective investments in the state due to scrapping the deal with Mukesh Ambani-led RIL, signed by the then Congress government in 2006.  The ruling SAD (Shiromani Akali Dal) has been opposing the deal from the beginning and Chief Minister Parkash Singh Badal had assured to terminate the deal after coming in power.

Gunbir Singh, Chairman, CII Punjab State Council, said, "Punjab needs a credible and coherent policy in investment, which should not change with the change in government."